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Judge Finds Securities Lawsuit Over Zyprexa Is Time-Barred
A New York federal judge has thrown out a securities class action case against Eli Lilly that challenged the drug manufacturer's alleged misrepresentations about its anti-psychotic drug Zyprexa, holding that the plaintiffs failed to file their suit within the two-year statute of limitations. The decision turned on the standard for determining when the plaintiffs "reasonably should have known" that they sustained damages because of Eli Lilly's purported fraud.